Snapshots of Cash-Flow Timing in Private Markets: Evidence from the PFD Framework

Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot is based on an article about how private-market funds can share similar IRR and TVPI yet have very different liquidity profiles. Using PFD timing metrics and Preqin cash-flow data, it shows how deployment, breakeven, and distribution schedules vary across asset classes, vintages, strategies, and fund sizes materially meaningfully.